The Swedish International Development Co-operation Agency (SIDA) granted a US$4.5 million to develop micro and small enterprises (MSEs) in Vietnam.
Delegates from the International Labour Organisation (ILO) of Swedish Government and the Vietnam Chamber of Commerce and Industry (VCCI) signed an agreement titled “Poverty Reduction through Integrated Small Enterprise Development” (PRISED) in Hanoi, July.
The project aims to contribute to local economic growth, poverty reduction and the creation of more and better jobs through the promotion of a viable private sector and the development of MSEs.
The project will also include household enterprises and the self-employed, based on the partnership between the MSE sector and provincial authorities. The project will also stimulate the use of mass media by MSEs for improved access to knowledge, information and services.
The four-year project will focus on six provinces, initially Binh Phuoc, Quang Ngai, Thanh Hoa and Tra Vinh, and two other to be chosen later.
Speaking at the signing ceremony, Swedish Ambassador to Vietnam Anna Lindstedt said: “The poor in Vietnam are likely to be working in micro-enterprises and in the informal sector. While several government and donor programmes support the development of small and medium enterprises, there seems to be less support for micro-enterprises, including household enterprises, and particularly helping build the local environment for small businesses. Therefore, Sweden is proud to co-operate with the VCCI and the ILO in this project.”
